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FIFA President Gianni Infantino has dropped a plan to sell stakes in the World Cup and other competitions. The decision followed widespread opposition and threats of a boycott from top football stakeholders.
FIFA's controversial proposal to sell stakes in the World Cup and other competitions had been at the center of a heated debate in the football community. The plan aimed to generate additional funding for member associations through a new commercial structure.
However, the Union of European Football Associations (UEFA) and the Asian Football Confederation (AFC) had strongly opposed the plan, warning that their member associations would boycott the World Cup and other FIFA competitions if it was approved.
The Confederation of North, Central America and Caribbean Association Football (CONCACAF) also backed UEFA's position, adding to the mounting criticism of the proposal.
In a statement posted on his Instagram page, Infantino announced that the governing body would no longer pursue the proposal, citing the division it had created within the football community.
‘The FIFA Forward Enterprise project was intended to provide a basis for further strengthening our FIFA Member Associations and our sport worldwide, especially in those countries where support is most needed,’ Infantino said.
‘However, having listened carefully to all the views, it has become clear that the project has created divisions of a nature that, regardless of the level of support, are no longer in the interest of the objective set out in the first place.
Our purpose has always been – and will always be – to unite and improve. As a result, this proposal will not proceed,’ Infantino added.
FIFA will engage stakeholders in the coming weeks to continue discussions on growing the game, particularly in countries that require greater support.
Infantino has a track record of introducing reforms that benefit member associations, said former Nigeria Football Federation president Amaju Pinnick, who serves as deputy chairperson of FIFA's Men's National Teams Competitions Committee.
The proposal had the potential to increase financial support for national football associations, with each association potentially receiving up to $20 million in addition to funding under FIFA's Forward Programme.
However, the opposition to the plan has raised concerns that private investment in the commercial rights of FIFA competitions could alter the governance and future direction of world football.
The decision to drop the proposal follows a growing trend of private investors seeking to capitalize on the commercial potential of football competitions.